HB4251 98TH GENERAL ASSEMBLY

LRB098 17108 HLH 52195 b

98TH GENERAL ASSEMBLY
State of Illinois
2013 and 2014
HB4251

Introduced , by Rep. Dwight Kay

SYNOPSIS AS INTRODUCED:

35 ILCS 200/18-184.15 new

Amends the Property Tax Code. Provides that, beginning in taxable year 2014 and concluding in taxable year 2017, the county clerk shall reduce the property taxes levied by each taxing district to a level that is not greater than that taxing district's levy in the previous taxable year. Provides that the county clerk may increase or decrease the portion of a total tax levy paid by any individual taxpayer, provided that the increase or decrease in the individual taxpayer's tax bill is based solely on a change in the equalized assessed value of the taxpayer's property. Effective immediately.

FISCAL NOTE ACT MAY APPLY

HOUSING AFFORDABILITY IMPACT NOTE ACT MAY APPLY

A BILL FOR

AN ACT concerning revenue.

Be it enacted by the People of the State of Illinois, represented in the General Assembly:

Section 5. The Property Tax Code is amended by adding Section 18-184.15 as follows:

(35 ILCS 200/18-184.15 new)

Sec. 18-184.15. Five-year reduction. Notwithstanding any other provision of law, beginning in taxable year 2014 and concluding in taxable year 2017, the county clerk shall reduce the property taxes levied by each taxing district to a level that is not greater than that taxing district's levy in the previous taxable year. Nothing in this amendatory Act of the 98th General Assembly shall prevent a county clerk from increasing or decreasing the portion of a total tax levy paid by any individual taxpayer, provided that the increase or decrease in the individual taxpayer's tax bill is based solely on a change in the equalized assessed value of the taxpayer's property.

Section 99. Effective date. This Act takes effect upon becoming law.